Detroit bankruptcy: 20 reasons why you shoud care about today’s potential history-making ruling

DETROIT, MI — It’s easy to lose track of all the numbers, facts and figures that have been made public pertaining to Detroit’s historic bankruptcy case since the city’s declaration on July 18, 2013.

Detroit’s bankruptcy is not just a local issue. Rhodes’ ruling could affect how cash-strapped cities, counties, townships and districts handle business.

A Detroit breakdown by the numbers:

18-20 – Projected city debt in billions at time of July 18, 2013 bankruptcy declaration.

477 – Number of days since Detroit declared bankruptcy and began plan of adjustment process in effort to get it approved in court.

7 – Number in billions Detroit hopes to shed in debt if bankruptcy plan is approved.

1.7 – Number in billions Detroit would likely get over 10 years if bankruptcy is approved to enhance city services.

15 – Number of months Detroit has dealt with the bankruptcy issue.

27 – Number of months it took Stockton, Calif. to exit bankruptcy. A judge approved the plan on Oct. 30.

180 – Number of days Detroit would have to finalize all settlements and agreements before the implementation a court-approved bankruptcy plan begin and the city “formally” exits bankruptcy.

700,000 – Estimated number of Detroit residents affected by city’s budget woes.

20 – Percentage in cuts the city and labor unions for city employees agreed to under a proposed bankruptcy plan after persistent protests. Future recoupment opportunities are part of agreement.

194.8 – Number in millions that’s part of a “grand bargain” deal Gov. Rick Snyder and the Michigan Legislature approved to help Detroit get out of bankruptcy and minimize pension cuts for retirees and future legal costs for the state.

100 – Number in millions Detroit Institute of Arts has agreed to raise as part of the “grand bargain” to avoid a potential bankruptcy fire sale of its art collection. The DIA is currently 87 percent toward its goal.

325 – Number in millions Detroit would borrow from Barclays Capital under city’s “plan of adjustment” if Rhodes approves the bankruptcy. The money would help settle some of the city’s debts and start funding post-bankruptcy reinvestment.

50,000 to 80,000 – Estimated number of abandoned residential and industrial structures within city’s 143 square miles that could be affected by bankruptcy case. A ruling in favor of bankruptcy could give city funds to tear more structures down.

9 – Number of days it took in court before Detroit became eligible to file for bankruptcy.

18.5 – Number in billions Detroit was eligible to declare bankruptcy for in court.

162 – Number in millions Detroit Emergency Manager Kevyn Orr said Detroit would lack in cash-flow by 2013 fiscal year’s end.

368 – Number in millions Orr said Detroit’s budget deficit would be by July 2013.

600 – Number of Chapter 9 bankruptcies in the U.S. of cities, towns, villages, counties and special purpose districts since 1937.

2011 – The year the second largest U.S. municipal bankruptcy occurred. Jefferson County, Ala. was $4.2 billion in the hole at time of filing.

150 – Number in millions Detroit has reportedly paid in lawyers, legal experts, fees and other related expenses during the bankruptcy process.

What do you think about Detroit’s bankruptcy case? Would you approve it if you were a judge? Feel free to share your thoughts in the comments section below.