In a large skillet, heat olive oil over medium-high heat. Add chicken pieces.
In a medium bowl, combine the liquid from the peaches, orange marmalade, vinegar, brown sugar, basil, salt, cloves, cinnamon, and pepper. Pour mixture over the chicken in the skillet. Cover.
Cook the chicken for 25 to 30 minutes or until it's fully cooked, allowing the liquid to bubble but not really boil. (That's called simmering.)
Add peaches to the chicken, heat.
Combine 2 tablespoons of cornstarch with 2 tablespoons of water to make a slurry. Stir the slurry into the skillet.
Heat, stirring often, until the sauce has thickened.