Administrators from financial advisory firm Deloitte were appointed in March. The company's Norwegian parent firm, Reef Subsea AS, filed for bankruptcy earlier this year.
The heavy-duty plough was used at RWE Innogy's 576MW Gwynt y Mor project on board Reef Subsea's vessels.
It can be deployed up to 500 metres deep and can bury cables up to 2.4 metres below the seabed.
Reef Subsea went through a reorganisation in April last year, with the company being split into three units, following a review by owner, HitecVision. Reef Subsea AS had units in the oil and gas sector, as well as offshore renewables.