In a medium saucepan, bring the stock to a boil.
Whisk in the grits and cook over moderately high heat, stirring vigorously at first to eliminate lumps (Continue to stir periodically until thickened and the grains are tender- about 4 - 5 minutes total. If using regular grits, they will take up to 45 minutes)
Add the cream, butter and cheese and gently stir. Cover and remove from heat.
Meanwhile, in a large skillet, cook the bacon over medium-high heat until crispy.
Transfer cooked bacon to paper towel-lined plate.
Pour out all but about 4 tablespoons of bacon fat in the skillet and re-heat.
Sprinkle black pepper all over the shrimp and then add to the hot skillet and cook until curled and pink, about 3 minutes.
Stir in the garlic, parsley, scallions, paprika, Worcestershire, Tabasco and lemon juice.
Meanwhile, crumble the bacon into slightly smaller pieces, set aside.
Spoon the warm, cheesy grits into 4 shallow serving bowls and top each with a quarter of the shrimp mixture.
Garnish with bacon and reserved scallions. Serve at once!