Jesse Tovey, 26, is accused of fatally stabbing his 29-year-old brother Joshua Tovey at Hastings, on the Mornington Peninsula, on January 18, 2021.
Jesse, now 29, pleaded guilty to manslaughter in the Supreme Court of Victoria on Monday.
Crown prosecutor Angela Moran told the court that Joshua was stabbed multiple times outside his mum's house before fleeing and collapsing in a car park outside a repair shop.
There he suffered cardiac arrest and was unable to be revived.
Ms Moran said prior to the attack, Joshua, the oldest of six brothers, and Jesse had been exchanging text messages over an outstanding $600 debt.
She told the court Joshua had transferred $950 into Jesse's prison account during the younger brother's stint at Ravenhall Correctional Centre.
But in a flurry of angry text messages Jesse argued he didn't owe the $600 his brother still claimed.
In another fiery text exchange between the pair on January 5, Joshua threatened he would "stomp" Jesse if the debt wasn't repaid.
Sometime later that morning he assaulted Jesse with a mallet, injuring his face.
"Now you know I ain't playing, that's going to keep happening every time I see you C#$% until I've got what you owe me," Joshua texted after the assault.
"$600 Jesse or I swear to you, you're going to keep bleeding."
Jesse later told his mother of their feud and warned her to stay away.
On the night before the attack, Jesse consumed methamphetamine with a friend before being invited to attend his mothers house with friends just before 6am.
When his mother saw him making his way up the drive, she warned his friends not to let Jesse inside as Joshua was sleeping on the couch.
He went to the backyard where an altercation with his brother took place, with Jesse stabbing Joshua four times - resulting in an eight centimetre fatal wound to the chest.
He then fled the scene.
Jesse's lawyer John Saunders said his client suffered a "deprived upbringing" filled with violence, sexual assault, family abuse and loneliness.
"Mr Tovey is very much a product of his upbringing," Mr Saunders said.
Manslaughter carries the maximum penalty of 25 years' imprisonment.
Justice Michael Croucher adjourned the matter until September 5, for sentencing.
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