沙港案后，我国适用股东债权劣后清偿制度的司法实践日益丰富。但由于缺乏相对统一的适用标准，制度适用过程中过于依赖法官自由裁量权，结果上同案不同判等问题亦相伴而生。基于限缩自由裁量权，统一司法尺度的考虑，有必要在认真研究域外经验和标准的基础上，建立起一套符合我国国情的制度标准。

首先，文章对迄今为止具备研究参考价值的国内外经典案例、主要学术观点、法律法规和有关司法文件进行了回顾和整理。

其次，文章在破产法与公司法两个视域下，围绕债权及其取得行为的不公平性和债权劣后制度适用标准的合理性问题，对既存的相关标准学说或观点进行梳证。

最后，文章基于全文研究论证将既有标准类型予以统一整合，提出债权劣后清偿制度的基本前提是股东取得债权的不公平性行为，从股东投资和经营管理的二分法视角提出劣后清偿标准：（一）公司注册资本明显不足，无法支撑公司独立运作，股东为公司提供的替代性经营资金而取得的债权应劣后清偿；（二）股东违背信义义务，以非合规性经营方式输送公司利益为己所有而取得的关联交易债权，及股东无法证明具有合法商业目的的关联交易债权应劣后清偿。

Since the Shagang Case, China's judicial practice in applying the subordination rule of shareholders' claims has become increasingly diverse. However, due to the lack of uniform standards, overreliance on judges' discretion in the application process and different judgments in similar cases have arisen. To limit discretionary power and unify judicial scale, it is necessary to establish a set of standards in line with China's national conditions based on study of extraterritorial experience and standards in this article.

Firstly, the article reviews domestic and foreign classic cases, main academic opinions, laws, regulations, and relevant judicial documents with research value to date.

Secondly, the article analyzes and comments on the existing standards from the perspectives of bankruptcy and company law, focusing on the inequitability of claims and their acquisition behaviors and the reasonableness of applying subordination rule of shareholders' claims.

Finally, based on the full text of the arguments to synthesize existing standards, the article proposes that the basic premise of the subordination rule is the inequitability of shareholders' acquisition of claims. It puts forward the standards from the dichotomous perspective of shareholders' investment behavior and operation and management behavior:

(a) When the registered capital of the company is obviously insufficient to support its independent operation, shareholders’ claims obtained by providing substitutional funds for the company should be subordinated.

(b) Shareholders’ claims from connected transactions obtained by violating their fiduciary obligations and transferring the company's interests for their own benefit in a manner that is not compliant with regulations or claims from connected transactions where the shareholders are unable to prove that the claims have a legitimate business purpose should be subordinated.