Nightclub owner David West, 70, of Piccadilly in central London, was stabbed on 12 December.
His 45-year-old son, of the same name, admits killing his father but denies murder, saying he "lost control" because of his father's behaviour.
The Old Bailey heard the pair had a turbulent relationship and Mr West Sr sacked his son the day he was killed.
The court heard Mr West Jr allegedly drank several glasses of whisky on 12 December before taking a large knife from his flat and going to his father's house.
Before the killing, jurors were told, the defendant told his girlfriend "a lot of people need sorting out and it's going to be tonight" while afterwards he allegedly told police "I had the guts to stand up to him".
Prosecutor Aftab Jafferjee QC told the court: "He took the largest kitchen knife from his flat - provided by his father - and went next door to where his father had been taken by his assistant, and left at the bottom of the stairs as he was too drunken to climb them.
"He then stabbed his father... leaving the knife embedded there."
At the time of his death, Mr West Sr's business - including the restaurant Abracadabra and nightclub Hey Jo in Mayfair  - was in serious financial trouble with "large debts", the court heard.
Mr Jafferjee told jurors: "David West Sr rightly or wrongly saw his son as someone who was no longer able to match up to the demands of the state of the business.
"The defendant, who was in awe of his father, felt that his efforts were rarely, if ever, appreciated by his father."
The case continues.
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