Step 1In a medium saucepan, combine the apples, cinnamon, brown sugar and a pinch of salt over low heat. Cook, stirring until the apples are tender but not mushy, 8 to 10 minutes. While the apples are cooking, combine the water and cornstarch in a small bowl. Add the cornstarch mixture to the apples and increase the heat to high, stirring until the liquid bubbles and thickens. Remove from heat and hold in a warm place.
Step 1In a medium bowl, beat together the eggs, half and half, sugar, vanilla, cinnamon and nutmeg to form the batter.
Step 2In a food processor, grind the cornflakes with the palmiers and powdered sugar to a coarse, sandy texture.
Step 3Heat the oil in a wide pot or deep fryer until it reaches 350 degrees.
Step 4While the oil is heating, start preparing the French toast: Dip the bread in the batter to soak, then press the soaked bread into the crust mixture on both sides to form a good coating. Place the bread in the fryer, careful not to crowd, and fry until the crust is golden-brown, about 2 minutes.
Step 5Drain the French toast on paper towels to remove any excess oil, then arrange on a plate and top with apples and a dusting of powdered sugar. Serve immediately.