A New Jersey company will receive $44.25 million from its insurers for a claim it filed for defects to six satellites it launched in June 2008.

Orbcomm, a Fort Lee. N.J.-based global satellite communication firm, said it has reached a settlement with its insurance underwriters.

The settlement ends the claim, originally seeking $50 million over all claims relating to a Coast Guard satellite, which failed in August, and five quick launch satellites, according to company statements.

To collect the full $50 million, Orbcomm may have had to relinquish title to two of the quick-launch satellites, which are in operation, according to Space News. Those satellites, according to a U.S. Securities and Exchange Commission filing by the company, are expected to fail.

The satellites, all bearing the same defect, were underwritten by nine insurers, none of which were identified.

The defective satellites, built by KB Polyot of Omsk, Russia, carry Automatic Identification System maritime surveillance payloads, providing ship identity information for vessels outside the range of ground-based systems, according to Space News.