Melt 1 tablespoon butter in heavy
large medium saucepan over medium-high heat.
Add shallots and sauté' until just
tender, about 3 minutes. Add Cognac and simmer until liquid is
reduced to 1 tablespoon, about 4 minutes. Stir in chicken and
beef stocks. Simmer until reduced to 1/3 cup, about 10 minutes.
(Can be prepared 1 day ahead. Chill.)
Bring stock mixture to boil. Add
cream and simmer until liquid is reduced to 1 1/2 cups, about 20
minutes. Season with salt. Keep warm.
Pat shark steaks dry. Season with
salt. Sprinkle both sides of shark generously with pepper.
Melt remaining 2 tablespoons
butter in heavy large skillet over medium-high heat. Add shark
and fry until cooked through, about 4 minutes per side.
Transfer to plates. Serve with
sauce over or under the fish.