House of Taylor Jewelry has received a notice of default on a $3.95 million loan from its senior lender, New Stream Secured Capital, according to a U.S. Securities and Exchange Commission filing. The May 6 filing contained excerpts from a letter written by New Stream Capital, which entered a loan agreement with House of Taylor on Oct. 12, 2007. In addition to the jewelry manufacturer not meeting its minimum financial obligations for the periods ending Dec. 31, 2007 and March 31, 2008, other default issues arose from the "transfer, conveyance and/or disposition of certain of its assets without the consent of the lender," the letter said.

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