In a medium bowl, whisk together the eggs, milk, vanilla extract, salt, cinnamon and nutmeg.
Lay the bread slices in a casserole dish. Pour on the egg mixture. Allow to soak for 1 minute then flip the bread slices over. Allow to soak for about 10 minutes, until the bread has absorbed all the egg mixture.
Crumble the cornflakes until each flake is about ½ the size of an original flake. Place the cornflakes in a shallow bowl, such as a pasta bowl.
Heat a large (12-inch) non-stick skillet over medium heat and melt 2 tablespoons of butter. When the pan is hot, dip the French toast slices in the cornflakes, lightly pushing so the cornflakes stick to the bread slices.
Cook about 4-5 minutes on each side, until the cornflakes are lightly browned and the french toast is cooked.
Wipe down the skillet and repeat with the remaining slices.