But they both maintain present board members can not fully be blamed for the union's plunge into $2.35 million debt and imminent liquidation.
"The board in any organisation takes responsibility," Dunedin surgeon Bunton said yesterday.
"The only people the public can relate to are members of the current board. That is human nature but a lot of people would understand that a board couldn't bust an organisation within 18 months.
Bunton felt "tremendously uncomfortable"about the 180 creditors left in the lurch should the ORFU go into liquidation.
He was reluctant to commit himself to any reformed union.
"That depends on the shape and form of the new structure," he said. "A number of us on the board got involved when Otago rugby, from a playing point of view, was at a low ebb.
"We came on board to do something about that. We didn't know that the financial situation of the board was as parlous as it was."
Cassidy, a Dunedin lawyer, was "very upset and concerned" about the huge list of creditors owed money by the ORFU.
"Nobody likes to see business people miss out on money. This is one of the tragedies of the whole scenario. I'm hugely sympathetic to them. I'm a businessman myself and understand these things.
"People always try to apportion blame when these things happen. It is understandable but I don't necessarily accept it because these issues go back a considerable period of time."
Cassidy was prepared to put his hand up to help a reformed Otago union.
"If I'm wanted I would be very willing to play a role," he said. "But I will have to see what the nature of the new organisation is and be invited.
"I will go down in the history of Otago rugby as the shortest-serving director, having joined the board in May of last year."
Cassidy recognises it is a difficult time for rugby in Otago "but this decision hasn't been taken lightly by the board. It was inevitable and we hope it will enable rugby to be salvaged.
"I'm heartened that there are good rugby people out there who want to support Otago.
"I am sure that something will rise out of the ashes of this current fiasco.
"There is still a huge group of Otago's population that loves rugby."
Board members Dave Callon, John Faulks, Willis Paterson and John Hammer declined to comment yesterday. Andrew Rooney could not be contacted.