The quick answer
No, you do not need to.
In more detail
If you are about to do a Members’ Voluntary Liquidation, then we can distribute the overdrawn directors’ loan to you as a distribution in specie. This means you do not need to pay it back.
We effectively transfer the company asset, of the loan you owe back to your company, to you and this cancels out the loan.
You may have paid tax on the overdrawn loan (called section 455 tax) and then we reclaim this back after the liquidation.