Did OneWest Bank get a sweetheart deal from now-bankrupt Relativity Media?

The Beverly Hills entertainment company allowed Pasadena’s OneWest – which was just bought by New Jersey lender CIT Group Inc. this week – to take about $32 million from its film library accounts shortly before it filed for bankruptcy, according to court documents filed by Timothy Coleman, head of the Blackstone Group’s restructuring and reorganization group in New York who was hired by Relativity in September.

In paying OneWest, which was co-founded by now former Relativity Co-Chairman Steve Mnuchin, Relativity worsened its already troubled financial situation, Coleman wrote.

“This liquidity crisis caused (Relativity) to largely have to stop paying many vendor bills, to postpone production of certain film projects and to postpone the release of certain film projects,” Coleman wrote.

OneWest “swept” an additional $17.9 million from two other accounts, one of which was established to pay Relativity’s producers, performers and writers, Coleman said.

Some disgruntled creditors question whether it was fair to allow OneWest to deplete $50 million from Relativity just a few weeks before the studio filed for court protection, according to a report in Variety.

Mnuchin had joined Relativity Chief Executive Ryan Kavanaugh as co-chairman last October. But he left that position in May and has announced he will serve as vice chairman of CIT following this week’s acquisition of OneWest.

A Relativity spokesman declined to comment, and a representative for CIT did not return a request for comment.