Duran Nepean was originally charged with the murder of Andrew Schimmel, however today he pleaded guilty to the lesser charge of manslaughter.
The Supreme Court was told the two men had sometimes socialised together but in December 2011, a violent argument developed over several hours and Nepean ended up repeatedly stabbing Mr Schimmel.
The Court was also told Nepean’s withdrawal from anti-depressant medication may have affected his behaviour on the night.
He also had cannabis in his system and he was later found to have a blood alcohol level of 0.24.
In court today through his lawyer, Nepean publicly apologised to Mr Schimmel’s family, saying he was extremely sorry for what he had done.
Nepean was remanded in custody until he is sentenced next month.