In a large saucepan over high heat, brown the ground meat substitute in the butter and oil, stirring constantly and breaking it up with a spoon. Add the vegetables and sauté until the liquid has evaporated. Season with salt and pepper. Add the tomato paste and cook for 2 minutes. Add the wine, tomatoes, milk, bay leaves and thyme. Bring to a boil, reduce the heat and simmer gently for about 1 1/2 hours, stirring frequently. Remove the bay leaves and thyme. Adjust the seasoning.