In rhyming slang here in Australia, to do the Harold Holt is to bolt/disappear at a critical time with no good excuse, such as being nowhere to be found when it's your round at the pub, or vanishing when hard work is about to start.
What the hell is he on about, I hear you ask? 50 years ago today, then Prime Minister of Australia, Harold Holt, disappeared while swimming at the beach. No trace of him was ever found and the slang doing the Harold Holt was born. Cheers!