The dynamics of a spherically symmetric thin shell with arbitrary rest mass and surface tension interacting with a central black hole is studied. A careful investigation of all classical solutions reveals that the value of the radius of the shell and of the radial velocity as an initial datum does not determine the motion of the shell; another configuration space must, therefore, be found. A different problem is that the shell Hamiltonians used in literature are complicated functions of momenta (non-local) and they are gauge dependent. To solve these problems, the existence is proved of a gauge invariant super-Hamiltonian that is quadratic in momenta and that generates the shell equations of motion. The true Hamiltonians are shown to follow from the super-Hamiltonian by a reduction procedure including a choice of gauge and solution of constraint; one important step in the proof is a lemma stating that the true Hamiltonians are uniquely determined (up to a canonical transformation) by the equations of motion of the shell, the value of the total energy of the system, and the choice of time coordinate along the shell. As an example, the Kraus-Wilczek Hamiltonian is rederived from the super-Hamiltonian. The super-Hamiltonian coincides with that of a fictitious particle moving in a fixed two-dimensional Kruskal spacetime under the influence of two effective potentials. The pair consisting of a point of this spacetime and a unit timelike vector at the point, considered as an initial datum, determines a unique motion of the shell.