Preheat oven to 325º. Grease the bottom and sides of an 8” round or square cake pan. Place the cranberries evenly in the bottom of the cake pan, and sprinkle with the chopped walnuts and the 1/3 cup sugar. Set aside
In a medium bowl, beat the egg and ½ cup sugar with an electric beater until mixture thickens. Beat in the flour a little at a time. Beat in the melted butter. Pour the batter over the cranberries and nuts in the cake pan. Bake in middle of oven for 45 min or until a pick comes out clean. Set aside to cool.
To unmold, run a knife around the edges and invert onto a serving plate. Serve with whipped cream.