Lee James (35) savagely wounded Lee Deamer after arming himself with two knives and threatening regulars at a pub.
After the attack James was seen on the Fife coastal path near West Wemyss shouting and making slashing gestures with a knife.
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He was detained by police firearms officers who had their weapons drawn, the High Court in Edinburgh heard.
James, formerly of High Street, Dysart, was originally charged with attempting to murder Mr Deamer, who was aged 32 at the time, on May 31 last year.
But the Crown today accepted his guilty plea to a reduced charge of assaulting Mr Deamer to his severe injury, permanent impairment and disfigurement and to the danger of his life.
He also admitted assaulting John Allan on the same date, behaving in a threatening manner and illegally possessing two knives in a public place.
Advocate depute Barry Smith said the assault victims were at Baxter’s Bar in the High Street with other regular customers when James arrived.
He bought a drink in the pub and went to the front door with it. Another patron told him he was not allowed to drink outside and he should go back inside. James became aggressive and threatened to take him on.
James again challenged the man inside the bar and followed him out of the premises. Mr Deamer also went outside and tried unsuccessfully to pacify James.
Mr Allan also joined the group outside and James declared: “I’m gonna do you all.” He then swung a bag containing the bottle and struck Mr Allan on the face with it before walking off.
But five minutes later James returned to the pub with a knife in each hand and tapped on a window at the bar and shouted: “You’re all dead.”
Mr Deamer left the bar to speak to James and was struck on the face with a knife.
The victim was taken to hospital for treatment and police were contacted. Mr Deamer was found to have two 10 centimetre wounds and suffered facial fractures.
A CT scan showed that he had part of the blade in his face and surgeons operated to remove it.
The prosecutor said: “The surgeons who operated on Mr Deamer confirmed that the injury was potentially life threatening due to the proximity of the blade to large blood vessels.”
A judge deferred sentence on James, who has previous convictions for violence and weapon possession, for the preparation of a background report.
Lord Boyd of Duncansby remanded him in custody and told him: “It seems to me you are a menace.”