Bloke owned EW and was determined not to be swallowed by Ansett.
Old mate sold Airline to another dude with iron clad guarantee.
A week later (maybe 10 days later), EW on sold to Ansett.
Middle Man makes about 100K. Big scam, and they got away with it?
Ansett absorbs EW and 3 yrs later, gone altogether, which was the plan when they bought it in the first place.