Ronald Perelman lands in Morristown the week of his $410m art-insurance trial

Ronald Perelman flew from his Deep Woods Ranch airstrip in Texas to Morristown Municipal Airport on June 19th, a Gulfstream G650 (N838MF) completing the 1-hour-53-minute leg in time for the late afternoon. Morristown, a frequent landing point for Perelman, sits roughly 30 miles from Manhattan.

The trip lands the same week the second phase of Perelman’s $410 million art-insurance trial wraps up in lower Manhattan, as covered by Insurance Journal on June 18th. Perelman testified earlier this month that a 2018 fire at his Hamptons estate, The Creeks, faded the colors on works by Warhol, Twombly, and Ruscha. Insurers, who have already paid out more than $100 million for other damaged pieces, argue Perelman never claimed damage to these five works until 2020, when he faced margin calls. A decision is expected in months.

The flight fits a pattern of shuttling between rural retreats and Northeast hubs. Two weeks ago Perelman’s jet flew from Florida to Geneva and back; the week before that, it hopped between Santa Fe, Colorado, and Orlando. For a dealmaker who lost Revlon in its 2023 bankruptcy and has spent years paring assets, the return to the New York courtroom may be as consequential as any board meeting this quarter.