HeliFlite has ceased trading and the whole situation around them unfortunately looks a little messy at this point in time.
If you are looking at purchasing hours in blocks I would ask your prospective trainer if they use a trust account. Helipro is the only one that I am aware of that does this. i.e. the company only gets paid for the hours you fly. The rest is kept in trust by an independent third party - a Paraparaumu law firm I believe.
TK