In a steamer, steam lobster and clams, approximately 10 minutes. Remove the lobster and clams. Reserve the juices. Crack and separate the claws and tails from the lobster discard the shells.
In a shallow saute pan, add the wine, water, and scallops. Cook on medium heat until the scallops are done. Reserve the juices.
Combine the reserved seafood juices, combined, they should equal 1 1/2 cups liquid. If there is too little liquid, supplement with water.
In a heavy-bottomed pan, add the reserved juices, cognac, and shallots, reduce by half.
Remove from heat add 2 pieces of butter. Whisk until melted and return to medium heat continue to whisk while adding the butter, the sauce should thicken to the pouring consistency of cream. Add the salt and pepper, to taste.
Cut the top off the loaf of bread and hollow it out. Keep the removed bread for bread crumbs. Leave an inch thick crust on the sides and bottom. Fill the bread hollow with the seafood and top with the cognac sauce. Garnish with a sprinkle of parsley. Serve immediately once assembled.
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