When Andrew Purcell is asked how serious a breach of directors’ duties it would be for a director to seek a secret, personal benefit in return for supporting a deal in the interest of shareholders, he answers with a vigorous nod.
“That would be against directors’ duties, yes,” he agrees.
That conduct is precisely what Mr Purcell, who this week was voted off the board of the ASX-listed oil and gas venture Metgasco, has been accused of by the chairman of the company which ousted him an allegation he flatly denies.
Behind the accusation is the failure of a planned merger between Metgasco and another small oil and gas company, Byron Energy.
Fellow directors wer…