Clayton Larcombe, a Sydney-based funds manager, appeared at Downing Centre Local Court on Wednesday to face charges of common assault involving domestic violence. The charge relates to an alleged incident in Darlinghurst earlier this year. Larcombe pleaded not guilty to the allegations and is scheduled to return to court in several weeks, with prosecutors indicating that multiple witnesses will be called to give evidence.

The court appearance comes amid significant financial difficulties for Larcombe, whose investment company, PAC Capital, was placed into administration on March 18. The move effectively ended Larcombe’s efforts to establish a public and private funds management firm. PAC Capital had sought to leverage unconventional investment strategies focused on sectors such as video gaming and gambling, alongside traditional asset holdings.

Larcombe’s business challenges intensified following a failed attempt to sell portions of PAC Capital to a Queensland-based consortium, which contributed to a loss of investor confidence. Last year, he repositioned himself as a Middle East-based investor with a focus on venture capital projects in Abu Dhabi. However, these plans were derailed by mounting debts linked to his property portfolio.

Creditors have recently moved to seize two luxury properties owned by Larcombe, including a mansion in Bellevue Hill — a well-known affluent Sydney suburb — and a regional retreat in Bowral. These developments underscore the financial strain affecting both his corporate and personal assets.

The case highlights the intersection of Larcombe's legal and financial troubles as receivers work to wind up his remaining business interests. No further details about the alleged assault incident have been publicly disclosed, and the court proceedings will continue in the coming weeks.