Two men have been charged over a failed alleged plan to murder prominent Sydney businessman John Ibrahim.

A court lifted a gag order on Thursday which allowed for Mr Ibrahim's identity to be named as the intended target of the plot.

Prosecutors didn't ask for the non-publication order to remain as Mr Ibrahim, who is not accused of any wrongdoing or involvement, failed to make a police statement about the incident.

Two men, Yousif Zrayka, 20, and Siaosi Maeakafa Tupoulahi, 24, were dramatically arrested in Dover Heights on Thursday, July 25, near Mr Ibrahim's home after a police pursuit that ended at Old South Head Road.

Police had been responding to reports a man was holding a loaded gun.

Zrayka was arrested at the scene while Tupoulahi was chased down by cops after attempting to flee on foot.

Both men were charged with a total of 19 offences over the incident, including multiple firearm-related crimes and intimidation.

The 20-year-old was charged with taking and driving a vehicle without the owner's consent and a police pursuit.

The 24-year-old was charged with assaulting and hindering police, being carried in a car without the owner's consent and not wearing a seatbelt.

They were also both charged with conspiracy to murder Mr Ibrahim via what was described in court as an alleged "amateurish plan".

The court heard the pair's alleged plan was error-ridden, and included them allegedly aiming a loaded gun at the wrong car which they mistook for Mr Ibrahim's.

Tupoulahi allegedly held the gun at the driver, who held their hands up, for ten seconds.

After getting into the allegedly stolen rental car driven by Zrayka, the grey Cupra Leon was stopped on the main road.

Tupoulahi allegedly fought off two officers and got away before being brought down by a taser about 30 minutes later.

A revolver, a semi-automatic firearm, a container of petrol and rubber gloves were obtained from the stolen rental car Zrayka and Tupoulahi attempted to flee in.

No charges have been entered by the men, and their cases are set to return to court at a later date.

It is not yet known what their motive was for their alleged murder plot.

The Incident

Sydney businessman John Ibrahim can be revealed as the intended target of an alleged assassination attempt near his home in the city’s eastern suburbs.

Ibrahim’s identity as the alleged target of a failed murder attempt in July can be made public after a court secrecy order was lifted on Thursday.

Two men, Siaosi Maeakafa Tupoulahi and Yousif Zrayka, were arrested on July 25 after allegedly confronting a driver while carrying a pistol on George St, Dover Heights.

Tupoulahi, 24, allegedly brandished the loaded weapon at the wrong car, intending for it to be Ibrahim’s black Range Rover.

In July, Ibrahim asked a court to suppress his identity in the case.

Police allege Tupoulahi was dressed in all black and wearing a balaclava when he approached the vehicle and held a gun at the driver.

The men then allegedly fled the area in a stolen car, as alarmed residents called for help.

Police spotted the pair driving on Old South Head Rd and attempted to pull them over.

However, Zrayka, 20, allegedly failed to stop, sparking a brief police pursuit before they came to a stop on the same road.

He was arrested at the scene, while Tupoulahi allegedly tried to run from police and was arrested a short time after in Bellevue Hill.

Police earlier said one of the men was tackled to the ground in a dramatic arrest.

Two guns, a semi-automatic and a revolver, were allegedly found in the men’s vehicle.

The court was told Tupoulahi and Zrayka targeted two exact make and models of Ibrahim’s car but the Kings Cross identity was not in either of them.

The magistrate read out part of the police allegations on Thursday, revealing Zrayka and Tupoulahi may have links to organised crime.

Exactly why Ibrahim was the target remains unclear.

The Charges

Tupoulahi was charged with 11 offences, including possessing a loaded firearm in a public place, stalking or intimidating with intent of fear or physical harm and assaulting a police officer while on duty without actual bodily harm.

Zrayka was hit with eight offences, including possessing a loaded firearm in public, taking and driving a vehicle without consent of the owner and stalking or intimidating with intent of fear or physical harm.

Each man was also charged with conspiracy to murder.

If guilty, the men are facing up to 25 years behind bars.

What Happens Now?

The matter was briefly heard in Downing Centre on Thursday.

Ibrahim’s name has been conspicuously absent from the allegations because, in the days following the alleged assassination attempt, his legal team had it suppressed in the courts.

Ibrahim’s high-profile lawyer, Abbas Soukie, appeared in Sydney’s Downing Centre Local Court on Thursday saying he would not ask the courts to make the order permanent.

It means Ibrahim can now be named as the alleged target.

Zrayka and Tupoulahi had their matters briefly mentioned in the Downing Centre on Thursday and adjourned. They remain in custody.

The conspiracy to murder charge carries a maximum penalty of 25 years in prison.

The cases against the two accused men were adjourned until October.