Step 2: Lets Take a Lookie at That Red Thing
Though very simple in mechanics, the little red thing (from now on refered to as the lock) is made up of two parts. The first part is a small metal block that is wedged into the end of the lock, which i couldn't get a picture of that wasn't in shadow.
The second part, which is shown, is a thin piece of metal which protrudes away from the bar. This is the actual locking mechanism. It catches on a lip of the case, thereby making it difficult to remove.