Preheat oven to 150°C. Pat the shanks dry, season with salt and pepper.
Heat oil and 30g butter in a heavy oven-safe pot over high. Brown the shanks hard on both sides, about 4 minutes each side. Set aside.
Reduce heat to medium. Add onion, carrot, celery and remaining butter. Cook 8 minutes until soft. Add garlic, cook 1 minute.
Pour in wine, scrape the base, reduce by half. Add tomatoes, stock, thyme, bay leaf.
Return shanks to the pot, ensuring they are mostly submerged. Cover and transfer to the oven for 2.5 to 3 hours, until the meat falls from the bone at a fork's suggestion.