If someone can show I am wrong on this then to ahead. However, it's about the law and business entities, not what you think is right. Basically, can ken under US law claim some rights to ukyo's personal assets, as a Belize company, when ukyo's Australian company owed it money? Everywhere I read about this people are confusing who owns or owes what. And no, being sole director doesn't make you automatically personally liable for a company's debts. That's half the point of a ltd company.
Re: the limited liability issue; I would have previously agreed that Ken doesn't legal grounds to stand on to seize Jon's personal shares to absolve the debt held by WeExchange, but it seemed to me that Jon blurred the lines of limited liability to begin with when he put forth using the shares to make repayments. But I also really have no idea. You're right that it's just a pretty convoluted situation - and that in part seems to be what has influenced Ken to act as he has, because it seems like it would be a giant pain for Jon to work it out legally.