A very large old tree fell in a wind rain storm and as it came down it scraped another very large old tree, peeling the bark off of 4 sections of the main trunk of this tree. My question is, will this damage to the standing tree heel itself over time or will this tree deteriorate as a result of the bark being peeled off?
Trees have a process for sealing off wounded areas as a form of protection -- and they can recover from wounds like this. Here is a very good fact sheet from the University of Tennessee Extension, which goes into detail about the various ways trees respond to wounds. https://extension.tennessee.edu/publications/Documents/SP683.pdf