I am genuinely interested. I know every Limited is protected as its own legal entity(I may not have explained that well enough) but if things went tits up for Tony then his shares would still be an asset and as such nothing is ever ring fenced.
Just remember that sentence when you pay up that one'r, its not denial on my part it is a genuine belief. The fact you think that someone who does not agree says that you think it is a certainty which I would suggest is slightly big headed.
I am genuinely interested into how it is ring fenced as he either owns it or he does not, maybe I am not knowledgeable enough about high finance but I still do not see how something can be legally ringfenced