Two cases in the news illustrate dramatically different aspects of bankruptcy protection, that is, what can be protected and what can not.

One involves a large outsourcing firm in Tennessee, its owner and his wifewho seem to have garnered at least minor celebrityor, perhaps more accurately, notoriety. Their story apparently went public in the summer of 2010, when several agencies descended on the main office of the Sommet Group. Now, their story has become their stories. Yet, both remain entwined with the finances and penalties assessed on their former high-flying company.

The other case involves, yet again, casinos and debts via markers.   Whats important to realize is that, at least in Nevada, casinos in Vegas are able to proffer markers that are legally treated as bank checks.In other words, Las Vegas casino markers are neither secured debt, nor unsecured debt. Its more like a hot-check case.

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